The Dax gave way on Wednesday. In early trading, the main German index fell 0.13% to 14,402.96 points. Since its low for the year nearly two months ago, it has risen by more than a fifth and is now stable at a relatively high level. The MDax of mid-sized stocks fell 0.24% to 25,558.47 points mid-week. The EuroStoxx 50, the eurozone’s main barometer, gained 0.1%.
With the Thanksgiving holiday on Thursday in the US, the midweek data calendar is especially busy. Purchasing Managers’ Indices from Germany surprised on the upside in the morning. Against the backdrop of record inflation, the European Central Bank likely won’t be deterred by its plan to reverse interest rates again in December, Helaba economists wrote.
In the afternoon, other important data from the US are on the agenda, including the Purchasing Managers Index and the Consumer Climate as determined by the University of Michigan. In the evening, market participants await the minutes of the latest Fed meeting and hope for further indications on the extent of future rate hikes.
In the middle of the week, a canceled buy recommendation on the German stock market weighed on Siemens Healthineers, which finished the Dax down four percentage points. The medical tech’s ambitious outlook for the 2023 financial year leaves little wiggle room, wrote Jefferies analyst James Vane-Tempest.
Shares of CTS Eventim extended the previous day’s gains and soared to their highest levels since early June. Most recently, the increase was 4.3%. Baader Bank has updated the shares. Over the year so far, the organizer’s and ticket seller’s business has increased tremendously.
Papers from struggling utility Uniper fluctuated again, most recently losing about six percent. Sometimes they had nearly doubled in just four trading days the day before.
